Airtel Uganda reduces Money Transfer rates

Airtel money customers can now enjoy 79 per cent and 60 per cent reductions on withdrawal and Person To Person transfer rates respectively making it the most competitive rate on the market today.

According to Airtel Uganda Managing Director Mr. V.G. Somasekhar, the company continuously strives to create affordable and innovative solutions for customers including a relentless focus on the fundamental needs of their customers.

“With the massive reduction in cash withdrawal and P2P transfer rates, Airtel Money subscribers can conveniently and instantly do so much more in a reliable and secure manner using their mobile phones. By lowering the cost of these transactions, an increased number of Ugandans will get access to affordable and basic financial services at unmatched rates,” he commented during a press conference held this morning at the Airtel Ugandahead office.
The massive reductions will apply to all transactions between Shs1 million and Shs7 million as per the table below:

Table 1; New Cash Withdrawal Rates

Slab	Before	New	Reduction	Reduction%
1,000,001 – 2,000,000	26,500	12,500	14,000	53%
2,000,001 – 4,000,000	45,500	12,500	33,000	73%
4,000,001 – 7,000,000	60,700	12,500	48,200	79%

Table 2; Person To Person

TRANSACTION BANDS		Old Rate	New Rate	Reduction	Reduction
Mininum	Maximum
500	2,500	250	100	(150)	-60%
2,501	5,000	500	100	(400)	-80%
5,001	15,000	1,000	500	(500)	-50%
15,001	30,000	1,000	500	(500)	-50%
30,001	45,000	1,000	500	(500)	-50%
45,001	60,000	1,000	500	(500)	-50%
60,001	125,000	1,500	1,000	(500)	-33%
125,001	250,000	1,500	1,000	(500)	-33%
250,001	500,000	1,500	1,000	(500)	-33%
500,001	1,000,000	2,000	1,000	(1,000)	-50%
1,000,001	2,000,000	2,000	1,000	(1,000)	-50%
2,000,001	4,000,000	2,000	1,000	(1,000)	-50%
4,000,001	5,000,000	2,000	1,000	(1,000)	-50%

The preceding promotional rates are now permanent.

To enhance convenience, Airtel has increased the transaction limit from the usual Shs5 million to Shs7 million.

“Many of our subscribers use the Airtel Money platform to conduct business and we want to ensure that they are not restricted by the set limits. We feel that an increase in the limits will give them an increased capacity to conduct their businesses unhindered,” Somasekhar added.

Over the years, the Airtel Money platform has evolved to provide virtually all financial services in Uganda – paying bills, school fees, URA services, bank to wallet transactions and many others. Services such as sending money, buying airtime through Airtel money, Airtel money registration and pin reset are all free.

“On our side, we continue to ensure that the platform is safe and we remind all Airtel money users never to share their PINs with anyone,” Somasekhar concluded.